A new generation of information and communication technology is favored by the cutting-edge technology sector

Nuggets' "13th Five-Year Plan" strategic emerging industry

As one of the industries promoted by the “13th Five-Year Plan”, the new generation of information and communication technologies is expected to receive more policy support. In the eyes of industry insiders interviewed by the Financial Investment News, we will accelerate the innovation and development of the new generation of information and communication technologies, vigorously promote the in-depth integration of informationization and industrialization, and further promote the wide application of new technologies and new businesses, which will bring to the secondary market. Many investment opportunities come; among them, cutting-edge technologies such as 5G and quantum communication are expected to become the focus of the market.

â– Reporter Lin Wei

Gold stock pool

ZTE (000063) Guangxun Technology (002281) Tianfu Communication (300394) Fenghuo Communication (600498) New Yisheng (300502) Kehua Hengsheng (002335) Shenzhou Information (000555) Sanlux (002224) Ningbo Construction (601789) )New Haiyi (002089)

5G theme investment opportunities will be the first to benefit from the four major sectors

Although 5G still needs to wait for formal commercial use, with the acceleration of the previous construction, leading enterprises in the relevant industrial chain are expected to take the lead. The State Council has passed the "13th Five-Year National Informationization Plan", focusing on the development of 5G key technologies and promoting industrialization, which is conducive to further increasing China's competitiveness in 5G and leading the direction of 5G development. The current 5G standardization work has been fully kicked off, and industry insiders believe that 5G investment opportunities can be found from multiple segments.

5G commercial timetable released

According to authoritative media reports, China's 5G network commercial timetable has been officially released. According to the work arrangement of the Ministry of Industry and Information Technology, China's IMT-2020 (5G) promotion group and the 5G commercial plans of the three major operators, China will launch 5G network construction in 2019. The fastest commercial 5G network will be launched in 2020. The acceleration of 5G promotion work will drive the upgrading of the industrial chain, and the market space in the future may reach “trillion level”, and the industrial prospects are bright.

From the perspective of 5G development, all links in the industrial chain are progressing in an orderly manner. "Financial Investment News" reporter noted that in the fourth quarter of 2016, ZTE, one of the equipment manufacturers, said that it will fully invest in the national two-stage 5G test as the world's leading provider of integrated communication solutions. ZTE actively cooperates with R&D organizations, operators, academic research institutions and related equipment manufacturers in the global 5G industry. It has strategically cooperated with a number of operators to conduct technical verification and laboratory testing to jointly promote the 5G standardization and commercialization process.

In addition to the government and equipment manufacturers, telecom operators are also actively taking action. The 5G system design led by China Mobile has also officially started standardization. The project will formulate the "5G system overall architecture and functions" and "5G system basic processes" at the end of 2017. Basic standards. In China Telecom, at the 2016 Wuzhen World Internet Conference, China Telecom demonstrated the human-computer interaction scenario brought about by the combination of 5G and Internet of Things technologies. At present, China Telecom has established a 5G joint open laboratory, and it is expected that 5G will be fully commercialized by 2020.

Operators benefit from the tide

In the eyes of industry professionals, the investment in the construction of a new generation of mobile communication networks is huge, which will drive the growth of related equipment, devices, chips, antennas, software and other enterprises. According to industry insiders, with the advancement of China's 5G technology research and development, it will drive upgrades and investment opportunities in the entire industry chain including communications, electronic components, chips, and terminal applications. The market space in the future may reach “trillions”. The first benefit is in the communications infrastructure, including communications equipment, base stations, antennas, RF devices and other upstream areas. Then, the three major telecom operators and mobile phone manufacturers will also directly benefit from the exchange of 5G. "Financial Investment News" reporter noted that at the "2016 Future Mobile Communication Technology Summit" held in 2016, 5G became the protagonist of the summit, its application, development vision and key technology research and development were discussed in depth; and related industry planning will be new wireless Transmission theory and technology are listed as the technical direction of key development. At the same time, equipment vendors and operators have said that 5G as a technology with high capacity, high speed, low latency and more economical will effectively accelerate the development of the Internet of Things, and can drive the industrial Internet and Internet + in the vertical industry. With the accelerated development of 5G technology standards, related companies will have huge opportunities.

China has been catching up with international standards in 2G and 3G, and has become the dominant force in the 5G era. Cinda Securities analyst Bian Tiecheng believes that from the perspective of commercialization, the 2018 PyeongChang Winter Olympics, the 2020 Tokyo Olympics, and the 2022 Beijing Winter Olympics will greatly accelerate the 5G network and commercialization. Therefore, the arrival of the 5G era will shift the focus of mobile communications to East Asia, thus bringing new opportunities to the domestic upstream and downstream industry chain.

Zhou Yan, an analyst at China Merchants Securities, said that according to the 3GPP plan, the technical standards for the first edition of 5G in 2018 will be determined and will be fully commercialized by 2020. Combined with the investment clock of the wireless communication sector, 2017 is expected to usher in 5G theme investment opportunities. Optimistic about the main equipment, optical communication module, RF antenna, small base station four major sections, in the future can be laid out in these four directions. It is recommended to recommend ZTE, Guangxun Technology, Fiberhome Communications, Jinxinnuo; it is recommended to pay attention to Tianfu Communications, Tongyu Communications, Bangxun Technology, New Yisheng and other stocks.

Potential stock selection

ZTE (000063)

Clear strategic direction in the future

As a leading integrated communication equipment provider in China, ZTE's overall technical strength is strong. At present, the US export license is further delayed, and its short-term business performance is improving. In recent years, the company has proposed the M-ICT2.0 strategy, transforming into five strategic directions for the future, virtual, open, intelligent, cloud and all things connected. The company's development direction is in line with the national semiconductor power strategy.

CIC Securities analyst Zhou Ming said that ZTE's technology is rich in accumulation and its strategic direction is clear. Under the background of independent and controllable acceleration, the company's development potential is seriously underestimated. At the same time, the company's achievements in the Internet of Things, 5G and other fields continue, as a leading domestic communications company, in the context of state-owned enterprise reform and independent controllable acceleration, performance is expected to enter a period of rapid improvement.

Guangxun Technology (002281)

Integrated optoelectronics industry chain

Guangxun Technology set up a photonics innovation center in Wuhan, and established a large overseas investment R&D center for its US subsidiaries, highlighting the company's determination to develop high-end optical chips, integrate the optoelectronics industry chain, and build a national-level optoelectronic manufacturing innovation center.

Wang Lin, an analyst at China Merchants Securities, said that in the future, Guangxun Technology will form a strategic layout of the “three-in-one” global optoelectronics industry centered on Wuhan Optics Valley, the US R&D Center, Almae of France and IPX of Denmark, and build a systematic core competition. force. Wang Lin is optimistic about the industrial status of Guangxun Technology in the upstream of the domestic optical communication industry chain. With the upgrade of the company's optical chips and device modules, it will enhance the integrated profitability and enhance the company's competitiveness in global optical devices and optical modules.

Tianfu Communication (300394)

Prospects for overseas markets are expected

In the future, with the explosive growth of data traffic, the construction of all-optical networks will accelerate, and optical modules are an important part of the construction of all-optical networks, and their demand is strong. Zheng Ping, an analyst at Minsheng Securities, said that Tianfu Communication is the upstream of optical module manufacturers and has the characteristics of high precision, high cleanliness and high reliability. It is favored by Huawei, ZTE and overseas customers. In the future, the company is expected to enter the supply chain of overseas optical module leaders and increase the market share of the company's products in the world.

In the fourth quarter of 2016, Tianfu Communications entered the capacity release phase. After the production, the production capacity will be 2.5 times that before the listing. At the same time, the company and Yongzheng Group signed the "Framework Agreement on Strategic Cooperation of Optical Communication LENS Business", and it is expected that the revenue growth rate in 2017 will reach more than 40%.

Fiberhome Communications (600498)

Great release potential

In the third quarter of this year, FiberHome's business continued to maintain a relatively fast growth momentum, reflecting that the company's stocking situation and the inventory growth potential of the performance will remain at 9.8 billion at the end of the period. Based on industry characteristics and relevant data, the industry's optimistic expectations will be reflected. huge. The company's basic orientation is good, and the non-public offering project is progressing smoothly, and the downward pressure on the stock price is limited.

Zhu Jinsong, an analyst at Haitong Securities, believes that Fiberhome Communications is actively deploying overseas markets and sharing the “One Belt, One Road” communication infrastructure investment feast. Following Zhu Jinsong, he continues to be optimistic about the company's foothold in the main business of optical communications, facing the information blue ocean and actively transforming the long-term competitiveness of the domestic and international ICT market.

New Yisheng (300502)

Benefiting the industry's continued prosperity

New Yisheng's performance in the first three quarters of this year has increased significantly, and the output of optical chip packaging lines has gradually increased, which has increased the gross profit margin of some optical modules. Due to the overall explosive growth of optical module demand in the domestic carrier market and overseas data center market this year, the upstream chip production capacity is tight, which inhibits the supply of downstream optical module products, and the contradiction between supply and demand of medium and high-speed chips is particularly prominent.

In this context, Haitong Securities analyst Zhu Jinsong believes that the new Yisheng prepaid materials and equipment models have increased significantly, indicating that the company has increased the procurement of upstream chips, as well as the expansion of chip packaging production line and optical module capacity. High-speed modules continue to expand production and increase sales to provide a strong guarantee. The global traffic outbreak, especially the increase in Internet traffic in China, has contributed to the continued boom in the optical communications industry.

Quantum communication is no longer a concept theme stocks are expected to release

From concept to landing, the development of quantum communication ushered in substantive action in 2016. Faced with this huge market, capital investment will gradually increase, and the industry chain will become more mature. Analysts interviewed by the Financial Investment News believe that the performance of related concept stocks is expected to be released in the context of industrial scale growth, and the quantum communication concept stocks in the secondary market are worthy of investors' attention.

100 billion market waiting for excavation

China's quantum communication research started later than foreign countries, but large-scale commercial applications are in the forefront of the world. At present, metropolitan communication networks such as Beijing, Jinan, Hefei and Wuhu have been built to serve customers in finance and government affairs. Quantum communication has been included in the strategic industry fostered by the 13th Five-Year Plan, reflecting the determination of the national will to focus on the development of quantum communications.

As a new thing, quantum communication has been repeatedly speculated in A shares. In the second half of this year, quantum communication finally had substantial actions, and a number of major quantum communication projects were put into use, and the state's investment in quantum communication was significantly increased. This summer, Shanghai Quantum Communication Metropolitan Area Network will be completed, and the world's longest quantum communication intercity backbone network connecting 2,000 kilometers in Beijing and Shanghai will also be completed. In August, the world's first quantum communication science experimental satellite was launched. China has begun to take the footsteps of quantum communication wide-area network construction. It plans to build a sub-European quantum communication network by 2020 and a global quantum communication network by 2030.

In an interview with the "Financial Investment News" reporter, some people in the industry said that the "Thirteenth Five-Year Plan Outline" issued earlier listed Quantum Communication and Tiandi Integrated Information Network as one of the ten key promotion projects, and it is expected that the special fund The support is close to 100 billion, which will greatly promote the large-scale construction and application of quantum communications for military and civilian use. In the future, China will also build a quantum communication infrastructure based on the globalization of quantum information technology to form a complete quantum communication industry chain and the next generation of national sovereign information security ecosystem.

At present, China's public network construction invests 40-600 billion yuan per year, according to the 2% public network replacement level, the annual market size is about 8-12 billion. Some industry insiders said that with the future deployment of quantum communication in metropolitan area networks, inter-city networks and wide-area networks, the application scenarios of quantum communication will be extended from current financial, government, military and other customers to personal life. By 2030, quantum The communications market is expected to reach the level of 100 billion.

Industry chain opportunities are highlighted

The quantum communication industry is developing rapidly, and the industrial advantage will attract more capital attention. In the eyes of industry professionals, in the field of quantum communication, several inter-provincial quantum communication networks were launched in 2016, and applications in the financial and defense industries are expected to be launched one by one. Quantum communication will become the strategic commanding height in the field of network information security. The "Financial Investment News" reporter noted that since 2016, the national investment has increased significantly, and the quantum communication confidential network has been demanded by specific industries such as armed police and public security, which can ensure information security and anti-theft. At the same time, quantum communication is also expected to expand into the fields of national defense and finance, and the market will be broad in the future. Many companies in the communication sector have already begun to lay out quantum communication, increase research and development efforts, and the industry chain will become more mature.

Kang Zhiyi, an analyst at Huatai Securities, said that quantum communication is the best communication method for confidentiality at present. The method of decoy quantum communication has begun to be commercialized on a large scale. Currently, Europe, the United States, and Japan are investing heavily in R&D and commercial applications. The commercial application of quantum communication is in the forefront of the world. The “13th Five-Year Plan” will include quantum communication in emerging industries with great strategic significance, and future investment will increase. From the perspective of secondary market investment targets, Kang Zhiyi suggested focusing on Zhejiang Dongfang, Ningbo Construction, Kehua Hengsheng, Shenzhou Information, Hengtong Optoelectronics and other stocks.

Potential stock selection

Kehua Hengsheng (002335)

Long-term investment value appears

Through cooperation with Guodun Quantum, Kehua Hengsheng is expected to use the data center to directly connect QKD encryption to apply quantum communication technology to the company's existing and future high-security green data centers and cloud computing services, and jointly expand the quantum communication network. Nearly 100 billion markets such as operations and encrypted data storage and transmission, the company's long-term development can be expected.

CITIC Securities analyst Yang Jiajia said that in 2016, including Shanghai-Hangzhou, Beijing-Shanghai trunk line and other industries continue to catalyze, Kehua Hengsheng as a pure operating standard of A shares, is expected to continue to benefit from the industry's explosive dividend. In 2016, the company has sorted out the new “One Body Two Wings” strategic plan for the eco-energy Internet, and firmly optimistic about the long-term value of the company's business ecology.

Shenzhou Information (000555)

Infiltrate downstream of IT services

China Information continuously enhances the ability of independent and controllable services to help customers accelerate the process of localization replacement. Lu Ting, an analyst at CICC, said that in 2016, the company’s winning bid for the quantum network communication “Jinghu trunk line” technical verification and application demonstration project in the backbone network quantum system construction integration project has completed the indoor joint adjustment work, and is promoting the external field according to the progress. The company is also involved in a large number of localized alternative solutions projects. Although the gross profit margin will decline in the short term, it will help the company to enter the next stage of software and service replacement market in the long run.

China Information continues to increase investment, accelerate product technology upgrades and migration to cloud architecture; at the same time, the company began to try to penetrate the downstream industry based on IT services.

San Lux (002224)

Plus quantum communication service

Sanlux is actively deploying in the field of quantum communication, and will cooperate with Guodun Quantum to create a "two platforms, one network, quantum secure communication network", a "super-based distributed quantum secure communication data center" and "Tianhe No. 2" in Shanxi Province. The super-interconnected and interconnected quantum secure communication network will become the most advanced quantum communication security network in the world.

Liang Bo, an analyst at Dongxing Securities, said that Sanlux actively advances into the field of unmanned application equipment. As the first listed company to enter the unmanned submersible industry, the company continues to exert its strength in the field of unmanned submersibles. The pace of transformation of the company has been accelerating. It has planned to set up subsidiary companies to add smart equipment manufacturing business and quantum communication business. As the new business accelerates its layout, further growth can be expected.

Ningbo Construction Engineering (601789)

New business development space

The results of the IDC business contribution that Ningbo Construction Engineering intends to acquire may exceed the forecasts given in the restructuring plan. At the same time, there is more incremental space in the quantum communication and opto-magnetic hybrid cloud storage business, and the deep equity binding of the company's core personnel provides guarantee for new business development and performance release.

Bao Rongfu, an analyst at Huatai Securities, believes that the connection between Zhongjing Cloud and Quantum Communication is not just as simple as establishing a joint venture with Guodun Quan. Zhongjing Cloud has completed the construction of Quantum Communication Beijing Metropolitan Area Network, and Yizhuang Machine Room is the general control center of the Beijing node of Quantum Communication Beijing-Shanghai trunk line. Zhongjing Yun has the endorsement of Guodun Quantum and CDB and has experience in the construction of metropolitan area networks. In the future, there may be more advancement in the commercialization of quantum communications and the construction of wide-area networks.

Xin Haiyi (002089)

Orders are exploding

The new Haiyi private network business will continue to grow at a high level, and the state's investment and support for quantum communication projects will inject strong momentum into its future development. The company's private network communication quantum encryption orders are exploding, and the business has become the company's main source of revenue.

Guojia Junan Securities analyst Song Jiaji believes that with Xinhaiyi focusing on private network communication and electric logistics vehicle business, the development strategy of “big communication + new energy” is gradually clear. Under the dual favorable policies and market, the company's performance will usher in a turning point. . According to the company's current situation and future market development potential, LED and communication network products are conservatively estimated to maintain a growth rate of around 10% from 2017; emerging business private network communication products will maintain a 50% growth rate in the next three years. Source: Financial Investment News http://jrtzb.com.cn/

Postal code: 61-146 (weekend securities) 61-102 (limited to Sichuan area, full set)

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